500 million in salary while the company goes bankrupt

Should CEO's have to give back their salary if their company goes bankrupt?

  • Yes, they don't deserve that salary if the company is failing

    Votes: 9 37.5%

  • No, sitting on their ass in a big office is worth millions per year

    Votes: 0 0.0%

  • yes and throw them in jail for embezzlement too

    Votes: 12 50.0%

  • no, let them collect as much as they can and the taxpayers can bail them out

    Votes: 3 12.5%
  • Total voters
    24
  • Poll closed .
misshestermoffitt

misshestermoffitt

New Member
Apparently the CEO of Lehman Brothers in the last couple of years took home 500 million in salary. All the while the company was going bankrupt.

Some may argue that the CEO "earns" their inflated salary. I beg to differ. If your company is on the fast track to being bankrupt you shouldn't even be taking home a paltry million per year.
 
golden parachutes for those who need it the least. welcome to corporate america my friend.

my issue is that we have a free market. until a big business goes under. essentially fucking the little guys who play by the free market rules. when a local business kicks the bucket where is the government helping out the owner who actually needs it? either make it a free market or don't. you can't have it both ways...

just my 2 cents.
 
Where are these free market yahoos in this debate. The free market in America means they are free to fuck over the public and the stockholders and collect unheard of salaries while doing so. Yes, they should all have to forfiet all their salary and possessions they've acquired in the past 5 years, and I'd say a minimum sentence of 5 years in a state prison, not one of those federal country clubs. Justice in this country is absolutely corrupt. The best justice money can buy. Steal a sandwich because you're hungry, 5 years in prison, steal a few hundred million, get promoted.
 
Here's what we should do. It's a bit over-regulatory, but what the hell. Pass a law so that companies can pay their executives X times what the average salary of their workers is. Change the X to suit. Say, 25 times average salary, or 50 times, and no more. If the average worker makes $40k, then you could pay your executives $2 million (if you use 50 for X). They can be paid more, of course -- if they increase the average worker's pay accordingly.

In other words, no more riding the little guys into the ground, then walking away from a bankrupt business with half a billion dollars. If the company does well, *everybody* working for the company does well -- not just the executives.

And whatever stock options are offered to the executives, the same package must be offered to each employee as well.

Not a "free market" solution. And yet, it's a FAIR solution.
 
I really like that solution. I think that we need to add in that the company needs to retain a certain amount of cash on hand. It seems to me that the Ceo's are raking all the profits off the top and the companies have nothing left for times of need.

Also no bonus unless everyone gets one. Bonus checks can be figured based on the same salary formula.


I tried to + you Bonulator but I have to spread it around first, so rep for you in my mind.
 
i'm personally not against the idea, but most of the country would be. its too much like communism to catch on... plus, the ceo's have politicians in their pockets so it'd never even be considered.
 
If the CEO's suddenly had a limit put on their cash flow like the rest of us, they'd no longer be able to keep those politicians in their pockets.

Wow, this idea just gets better and better.
 
but its a catch-22. there won't be a limit on their cash flow because they have politicians bought. politicians won't limit the cash flow because they get paid to keep the system out of balance. money is power...

on a side note, did you know that 1% of the population owns something like 90% of the money?
 
misshestermoffitt said:
Apparently the CEO of Lehman Brothers in the last couple of years took home 500 million in salary. All the while the company was going bankrupt.

Some may argue that the CEO "earns" their inflated salary. I beg to differ. If your company is on the fast track to being bankrupt you shouldn't even be taking home a paltry million per year.
Click to expand...

I fail to see how the CEO (or for that matter the man in general) earns a fucking thing when it's everyone else that does the god damn work.kiss-ass
 
misshestermoffitt said:
Another good idea. We could extend this policy to include Washington. They can't make more than 8 times minimum wage. :blsmoke:
Click to expand...

No, because then we would be reduced to only retards in Washington. ... actually that'd probable be an improvement. They wouldn't be able to write or reason, so we wouldn't have to worry about them passing any legislation. All we'd have to do is also eliminate their staffs.

As far as limiting CEO pay, what about CEOs that built the company from the ground up? What everyone here keeps on neglecting with their desire to "cap" pay is that there a multitudes of companies where the CEO, or the family of the CEO/Board (Ford, Mars) built the company up from the ground, and that for the most part their pay isn't salary, but is dividends.

As far as the CEO of Lemon Brothers, definitely force him to return most of his pay, and issue it to the shareholders. Then throw him in jail for fraud.
 
We're talking about public companies that the shareholders/taxpayers get to pay for their bailout. If you want to start your own company and pay all the profits to yourself and never improve anything, go ahead, but when the taxpayers get drug into it be prepared to have all your stuff auctioned off.
 
TheBrutalTruth said:
No, because then we would be reduced to only retards in Washington. ... actually that'd probable be an improvement. They wouldn't be able to write or reason, so we wouldn't have to worry about them passing any legislation. All we'd have to do is also eliminate their staffs.

As far as limiting CEO pay, what about CEOs that built the company from the ground up? What everyone here keeps on neglecting with their desire to "cap" pay is that there a multitudes of companies where the CEO, or the family of the CEO/Board (Ford, Mars) built the company up from the ground, and that for the most part their pay isn't salary, but is dividends.

As far as the CEO of Lemon Brothers, definitely force him to return most of his pay, and issue it to the shareholders. Then throw him in jail for fraud.
Click to expand...
I have yet to see a correlation between IQ and pay. Some of the dumbest motherfuckers make some of the best bank. I think the money relation is in the ruthlessness of the individual. If a person is willing to sell out all his friends (Assuming they have any) and climb over their backs while sucking the person above thems' ass, they may become a higher paid entity. This seems to be corporate policy. Some of the brightest individuals never excell in pay.
 
medicineman said:
I have yet to see a correlation between IQ and pay. Some of the dumbest motherfuckers make some of the best bank. I think the money relation is in the ruthlessness of the individual. If a person is willing to sell out all his friends (Assuming they have any) and climb over their backs while sucking the person above thems' ass, they may become a higher paid entity. This seems to be corporate policy. Some of the brightest individuals never excell in pay.
Click to expand...

That's because there isn't a correlation between IQ and pay, and only fools believe that there is any way to become successful by screwing over other people.

Speaking of people kissing some one's backside, how about talking about how the Democrats are kissing Fannie's fannie?

As far as dumb asses that make good pay, yeah, I think we call those people politicians and lawyers.

And brightest individuals that don't excel in pay. Do you think maybe you are failing to realize that they haven't really got any intelligence if they can't think up of some product to sell? Or maybe they aren't interested in money, :: shrugs ::
 
tipsgnob said:
maybe like the Ben & Jerry's salary policy, the highest paid person could only make 8 times the salary of the lowest paid person...
Click to expand...



Ben & Jerry's founder's play for IA, NH - First Read - msnbc.com

Ben & Jerry's founder's play for IA, NH

Posted: Wednesday, September 19, 2007 10:27 AM by Mark Murray

Excerpt

From NBC's Mark Murray and Domenico Montanaro
Ben Cohen, the co-founder of Ben & Jerry's, wants to reduce the size of the Pentagon's budget -- and to accomplish that, he and the business group he heads are trying to influence the Democratic contests in Iowa and New Hampshire.
 
So? Is reducing the size of the pentagon's budget bad?



ccodiane said:
Ben & Jerry's founder's play for IA, NH - First Read - msnbc.com

Ben & Jerry's founder's play for IA, NH

Posted: Wednesday, September 19, 2007 10:27 AM by Mark Murray

Excerpt

From NBC's Mark Murray and Domenico Montanaro
Ben Cohen, the co-founder of Ben & Jerry's, wants to reduce the size of the Pentagon's budget -- and to accomplish that, he and the business group he heads are trying to influence the Democratic contests in Iowa and New Hampshire.
Click to expand...
 
ccodiane said:
Hell, I don't know? Maybe we should ask ice cream mogul Ben Cohen! He's made a hell of a bunch of money selling ice cream! I reckon he'll know!
Click to expand...

Yes, based on how well we've pissed off countries like North Korea, Cuba and Iran, I'd say that cutting military spending would be bad.

We should cut non-military government pay rolls instead.
 
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